Polar Asset Management Partners Inc. Trims Stake in PTC Inc. (NASDAQ:PTC)

Polar Asset Management Partners Inc. reduced its position in shares of PTC Inc. (NASDAQ:PTC) by 51.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,200 shares of the technology company’s stock after selling 31,900 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in PTC were worth $5,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG grew its stake in PTC by 1.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock worth $722,000 after buying an additional 55 shares during the last quarter. Wahed Invest LLC grew its stake in PTC by 2.1% during the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company’s stock worth $539,000 after buying an additional 61 shares during the last quarter. Allworth Financial LP grew its stake in PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Otter Creek Advisors LLC grew its stake in PTC by 0.4% during the 4th quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company’s stock valued at $3,527,000 after purchasing an additional 80 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC grew its stake in PTC by 3.2% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company’s stock valued at $542,000 after purchasing an additional 91 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Stock Performance

NASDAQ PTC opened at $171.80 on Friday. The stock has a market capitalization of $20.61 billion, a price-to-earnings ratio of 53.02, a PEG ratio of 2.27 and a beta of 1.19. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $203.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $154.30 and a 200 day moving average of $174.22.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.42. The company had revenue of $636.37 million during the quarter, compared to analysts’ expectations of $608.64 million. PTC had a return on equity of 14.49% and a net margin of 16.95%. PTC’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. Sell-side analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PTC has been the topic of several research analyst reports. Barclays dropped their price target on PTC from $215.00 to $175.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price target on shares of PTC in a research note on Thursday, May 1st. Stifel Nicolaus decreased their price objective on PTC from $230.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Oppenheimer decreased their price objective on PTC from $210.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, KeyCorp decreased their price objective on PTC from $211.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.15.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the sale, the executive vice president now directly owns 17,731 shares in the company, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. This trade represents a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.